19 Jan 2011 Daily Recommendations

19 Jan  2011 Morning Market Updates  08:58


Nifty Jan Fut immediate support at 5717 and resistance at 5757
Buy Banknifty Fut Abv 10670 sl 10624/10564 T 10763/11020 (Positional)
Buy Bankindia Abv 440 sl 433 T 452
Buy Bomdyeing Abv 446 sl 438 T 462 (Positional)
Buy Cipla Abv 359 sl 354 T 366
Buy CNXIT Fut Abv 7370 sl 7340 T 7420
Buy Ibrealest Abv 127 sl 123 T 134 (Positional)
Buy ICICIBank Abv 1022 sl 1010 T 1040
Buy IDFC sl 157 T 165
Buy Jindalstel Abv 701 sl 692 T 715
Buy NDTV Abv 84 sl 82 T 90
Buy Orchidchem sl 298 T 313
Buy Titan Abv 3500 sl 3460 T 3548 (Positional)
Buy Tulip Abv 172 sl 167 T 178 (Positional)
Buy Wipro sl 470 T 492

Results Today: Hindustan Zinc, Bajaj Auto, Bajaj Holdings, Infotech Enterprises, LIC Housing, Orchid Chemical, Peninsula Land, Torrent Pharma, Aptech, Noida Toll.
Cabinet reshuffle at 5 pm today

HCL Tech US GAAP Q2:
-Consolidated net profit at USD 88.8 million versus USD 72 million (QoQ)
-Cons net sales at USD 864.1 million versus USD 804 million (QoQ)
-Cons EBIDTA USD 141 million versus USD 130.8 million (QoQ)
-Cons EBIDTA margin at 16.32% versus 16.27% (QoQ)
Bombay HC upholds Tata Power's right to allocate its power
-Bombay HC sets aside Maharashtra Govt's May 7, 2010 memorandum
-Maharashtra Govt: Tata Power asked to continue power supply to Reliance Infrastructure
-Bombay HC says memorandum was contrary to Electricity Act 2003
Reliance Infrastructure says
-Will continue to get atleast 20 MW from Tata Power Company (TPC) till MERC decides
-MERC to decide issue of abuse of dominance by TPC
-Bombay HC upholds Tata Power’s right to allocate its power
-Reliance Infra says Reliance Infra consumers will not be impacted
Cairn-Vedanta Update
-Vedanta group may soon get SEBI nod for cairn open offer
-SEBI gets comments from merchant bankers on open offer
-SEBI currently processing Vedanta open offer post comments
Tata Steel FPO anchor book subscribed nearly 8x
-Anchor investors: Fidelity, Blackstone, Capital International
-Anchor Investors: Goldman Sachs, Govt Of Singapore
-Tata Steel FPO to raise up to Rs 3,700 crore; will open today
-Tata Steel FPO anchor book size USD 112 million
Lavasa : Sources
-Lavasa to challenge MoEF order in Bombay HC
-Lavasa will challenge every section of the order
MoEF order on Lavasa
-Maharashtra had no authority to give 2001 & 2004 clearance
-State was not empowered or authorised to issue clearance
-Order questions land transfer & purchase, master plan
-May give nod after company pays penalties
Lavasa says :
-No weight given to huge body of data submitted by company
-Technical committee report on legality of jurisdiction
-Legal counsels studying order; to explore all options
 Telecom monthly numbers

-Bharti Airtel adds 3.1 million GSM users in December; unchanged (MoM)
-Idea Cellular adds 2.95 million GSM Users in December versus 2.8 million (MoM)
-MTNL adds 24,731 GSM users in December versus 37,110 (MoM)
-Uninor adds 2.31 million GSM users in December versus 2.44 (MoM)
-Etisalat adds 1.32 lakh GSM users in Dec versus 61,223 (MoM)
Container Corp Q3 (cr - crore, vs - versus)

-Net profit at Rs 228 cr vs Rs 201 cr (YoY)
-Net sales at Rs 971 cr vs Rs 884 cr (YoY)
Petronet LNG Q3
-Net profit at Rs 171 cr vs Rs 83.2 cr (YoY)
-Net sales at Rs 3,600 cr vs Rs 2,213 cr (YoY)
ING Vysya Bank Q3
-NII at Rs 245.7 cr vs Rs 220 cr
-Net profit at Rs 83 cr vs 60.6 cr
MindTree Q3
-Cons net sales at Rs 384.8 cr vs Rs 384.4 cr (QoQ)
-Cons net profit at Rs 30.5 cr vs Rs 23.2 cr (QoQ)
HT Media Q3
-Net profit at Rs 47.8 cr vs Rs 35.7 cr (YoY)
-Net sales at Rs 463 cr vs Rs 359 cr (YoY)
Bajaj Finserv Q3
-Cons net profit at Rs 107 cr vs Rs 34.9 cr (YoY)
-Cons net sales at Rs 530 cr vs Rs 119 cr (YoY)
-Binani Cement announces delisting offer, issue opens on February 7, closes on February 11, floor price set at Rs 82/share
-Vodafone writes to SEBI & BSE against reverse listing of Essar Telecom, which holds 11% in JV (ET)
-RBI, SEBI slam finance ministry’s move to include development or reforms in the financial sector as part of the mandate of FSDC (ET)
-GAIL plans to raise Rs 3500 crore to fund its Rs 7000 crore capital expenditure in the next fiscal year (ET)
-Tata Steel & JSW Steel among 22 companies in race to bid for rights to mine Afghanistan’s richest iron ore deposit (Mint)
-Petronet LNG has signed deals to source 1.1mt of LNG for the next two financial years (TOI)
-Tulip Telecom plans to sell 20-30% in its subsidiary Tulip data centre for Rs 300 cr to a private equity investor (ET)
-Essar Energy plans to sell convertible bonds of Rs 2275 crore of convertible bonds to fund its acquisitions, projects & refinance debt (Mint)
-MOEF moots heavy fine of Rs 100 crore to Lavasa (TOI)
-IOC sells government bonds worth Rs 2464 corre at a discount of 12% and increased its borrowings to about 28% to Rs 54000 crore (TOI)
-3i Infotech received a 5-year order from Manipal Health Enterprise for its information technology
infrastructure solution (DNA)
-Gayatri Projects board meet on January 21 to consider a rights issue upto Rs 400 crore + to consider investing Rs 1000 crore in its subsidiary NCC Power Projects via its subs GEVPL
-Amrutanjan Healthcare board meet today to consider new business proposals.
-Hindustan Zinc board meet to consider results, Split and bonus
-Siemens: Ex dividend by Rs 17.5
-Securities in F&O ban: Chambal Fertiliser, Kingfisher Airlines and Orchid Chemical
F&O cues:

Total Nifty futures up Rs 691 crore, Options down Rs 1460 crore
Stock futures net add 3.2 crore shares in Open Int

Nifty Fut Open Int net shed 9 lakh shares in Open Int; Nifty futures prem at 9 pts versus 3 pts
Nifty Open Int PCR down at 0.89 versus 0.91
Nifty Put shed 18.5 lakh shares in Open Int, Call shed 6.3 shares in Open Int
Highest Open Int outstanding on call side at 6200 call, 6000 call, 5600 Put
Nifty 5600 Put shed 11.5 lakh shares in Open Int
Nifty 5600 call shed 7.7 lakh shares in Open Int
Nifty 6100 Call shed 3.9 lakh shares in Open Int
Nifty 5700 Put shed 3.7 lakh shares in Open Int
Nifty Feb 5700 Call adds 4.5 lakh shares in Open Int
Nifty Feb 6100 Call adds 3.8 lakh shares in Open Int
Nifty Feb 5600 Put add 2.6 lakh shares in Open Int
FIIs in F&O on Jan 18
FIIs net buy Rs 90 crore in Index Futures; Open Int up 7235 contracts
FIIs net buy Rs 1621 crore in Index Options; Open Int up 37121 contracts
FIIs net buy Rs 405 crore in Stock Futures; Open Int up 8126 contracts
Market cues: Disclaimer :

NSE F&O Open Int was down Rs 769 crore at Rs 1.51 lakh crore
FIIs net sell USD 11.8 million in the cash market on Jan 17

MFs net buy Rs 45.7 crore in the cash market on Jan 17
Results Today: HCL Tech, Bajaj Auto, Aptech, Hind Zinc, LIC Housing Fin, Orchid, Noida Toll, Peninsula Land, Torrent Pharma
Cabinet reshuffle today.
-Tata Steel FPO opens today.
As per provisional data of January 18, FIIs were net buyers of Rs 72.5 crore in the cash market; FIIs first inflow after 9 days of consecutive selling worth USD 980 million. FIIs were net buyers of Rs 2108 crore in the F&O market. DIIs were net sellers of Rs 26 crore in the cash market.



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